unitedhealthcare. ♪ [ male announcer ] they are a glowing exple of what it means to be the best. and at th special time of year, they shine evebrighter. come to the winter event and get the mercedes-benz you've always wished for, now for an exceptional pric [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 glk350 for $399 a month at your local mercedes-benz dealer. liz: the third largest u.s. bank announcing it will cut 11,000 jobs in an effort to reduce costs. david: the move by citigroup reflects the first major restructuring initiative by new ceo michael corbat. liz macdonald learned more job cuts could be on deck. say it ain't so. >> we've been reporting this since this morning. more job cuts could on the way. he said ttis is an initial foray. i tell you something, fitch ratings preserved citi's credit rating. fitch says if this is 4% of the workforce, 2% of your annual expenses. they're saying it is modest. so citigroup insiders talking to fox business, they're essentially saying that the problem with citigroup is we've been living too long with too many layers and d